Search found 133 matches

by Rwsawbones
Fri Jul 03, 2020 4:58 pm
Forum: Personal Investments
Topic: Equity-indexed annuity - surrendering early question
Replies: 21
Views: 899

Re: Equity-indexed annuity - surrendering early question

You clearly need expert tax advice. One question to ask an tax expert and annuity expert (not an annuity sales person) might be could you do a 1035 exchange into an immediate annuity which returns all your money in say 5 years in which case taxes would also be spread over the same time????
by Rwsawbones
Sat Jun 13, 2020 8:02 pm
Forum: Personal Consumer Issues
Topic: Really hard to avoid "Keeping up with the Joneses"!
Replies: 313
Views: 32136

Re: Really hard to avoid "Keeping up with the Joneses"!

I am a 79 year old physician continuing in practice because I love what I do. One of my contemporary colleagues has been a very hard worker and a very high earner enjoying much more that money can buy than have I (Unlike your friends and family he is too accomplished to let purchases or material thi...
by Rwsawbones
Sun May 31, 2020 8:24 pm
Forum: Personal Finance (Not Investing)
Topic: Visiting Grandchildren from Singapore Health Insurance
Replies: 6
Views: 751

Visiting Grandchildren from Singapore Health Insurance

Two grandchildren ages 15 and 16 both USA citizens but residents of Singapore will be visiting USA for about one month. Their Singapore based health insurance may not cover them in the USA. Any suggestions for arranging coverage would be very welcome.
by Rwsawbones
Fri May 29, 2020 8:43 pm
Forum: Personal Finance (Not Investing)
Topic: 16 Weeks Paternity Leave
Replies: 124
Views: 8908

Re: 16 Weeks Paternity Leave

Definitely take the maximum. Being a new parent is to be savored. Clearly your employer can function quite well without you during that time. It is a win win
by Rwsawbones
Tue May 19, 2020 6:46 pm
Forum: Personal Investments
Topic: ETF versus MF
Replies: 29
Views: 1566

Re: ETF versus MF

For long term investors reinvestment of dividends and capital gains as we as small recurring investment automatically from one’s checking account are easier with mutual funds
by Rwsawbones
Wed May 13, 2020 8:37 pm
Forum: Investing - Theory, News & General
Topic: Fixed Income lessons learned from Coronavirus?
Replies: 48
Views: 4357

Re: Fixed Income lessons learned from Coronavirus?

A couple can buy $25,000 per year of I bonds. $10,000 each through Treasury Direct and $5000 with income tax refund money. There was a time when a couple could buy $120,000 per year with a credit card and also for no added cost get frequent flyer miles. If one has many years to retirement the inflat...
by Rwsawbones
Mon Apr 20, 2020 7:57 pm
Forum: Personal Finance (Not Investing)
Topic: Purchasing Vehicle Insurance
Replies: 13
Views: 994

Re: Purchasing Vehicle Insurance

You should look at your health insurance. Both Long Term Care and Long Term Disability Insurance’s can be critical since slow speed motor cycle accidents can easily result in spinal cord injury. Some skilled nursing facilities have an entire section for such spinal cord injuries. In the Boston area ...
by Rwsawbones
Thu Apr 02, 2020 6:53 pm
Forum: Investing - Theory, News & General
Topic: What is your age/AA during this crisis?
Replies: 138
Views: 6656

Re: What is your age/AA during this crisis?

79 DW also 79. 40% equity funds. 60% fixed income and cash equivalents. More than 10 years of needs in short term treasury funds and money market funds. Before current sell off was 44% equities and 56% fixed income and cash equivalents. I continue to work as a physician. The sell off 2008-9 and up u...
by Rwsawbones
Tue Mar 31, 2020 10:24 pm
Forum: Investing - Theory, News & General
Topic: I thought I had it all figured out....advice please
Replies: 42
Views: 5387

Re: I thought I had it all figured out....advice please

I am a 79 year old still practicing physician I have many loyal patients but so many have gone to Cape Cod, Florida an Heaven that practice income is not nearly what it once was. I do get new young patients but by in large younger people prefer docs who are either their own contemporaries or their p...
by Rwsawbones
Sat Mar 21, 2020 5:24 pm
Forum: Personal Finance (Not Investing)
Topic: unemployment insurance for gig and misclassified workers
Replies: 21
Views: 1541

Re: unemployment insurance for gig and misclassified workers

You could set yourself up as an LLC for which you would be an employee. Doing so you would pay both the employee and employer part of the payroll taxes. You would then be eligible for unemployment coverage should your own LLC need to lay you off for lack of business. You would have to file several f...
by Rwsawbones
Thu Mar 19, 2020 7:28 pm
Forum: Personal Investments
Topic: Unprepared for Potential Great Depression Part 2
Replies: 245
Views: 24197

Re: Unprepared for Potential Great Depression Part 2

During the Great Depression 1 mortgages were callable, 2 banks went bust eliminating deposits, 3 There was no unemployment insurance 4 Social Security did not come into being until the late 1930s 5 we had an international trade war with the Smoot Harley act. Whoops sounds like now We do not always l...
by Rwsawbones
Tue Feb 25, 2020 7:56 pm
Forum: Personal Consumer Issues
Topic: Negotiating hospital PT bill
Replies: 36
Views: 3321

Re: Negotiating hospital PT bill

Procedures and therapies done in hospitals almost always will be much more expensive than similar services done elsewhere. There are actually 2 components to hospital including outpatient services namely the professional fee which is similar at all sites of care PLUS a facility fee. Of a $500 charge...
by Rwsawbones
Tue Jan 21, 2020 11:37 pm
Forum: Personal Investments
Topic: Scared Stiff to retire
Replies: 91
Views: 12853

Re: Scared Stiff to retire

The law has changed - RMD's are extended to age 72 from 70 1/2. The SECURE Act changed that requirement but only applies to folks who turn 70.5 years of age after 2019. Good to know. My dad is 70 and has not retired or taken his social security. He said taking SS will put him in another tax bracket...
by Rwsawbones
Tue Jan 21, 2020 11:26 pm
Forum: Personal Finance (Not Investing)
Topic: Disadvantages to making my m-i-l taxable acct as a joint acct?
Replies: 10
Views: 1114

Re: Disadvantages to making my m-i-l taxable acct as a joint acct?

You might look into transfer on death registration. With the durable power of attorney you can mange the funds for her then inherit them on her demise with the step up of basis preserved.
by Rwsawbones
Sun Jan 19, 2020 4:20 am
Forum: Personal Investments
Topic: Who’s Buying Bitcoin?
Replies: 307
Views: 18598

Re: Who’s Buying Bitcoin?

Bitcoins are useful for paying ransom when a large institutions computer system has been hacked especially in health care such as the British National Heath Service. They are also useful in certain large drug deals so they clearly can be handy but Unlike tulips they are not a thing of beauty. I am n...
by Rwsawbones
Thu Jan 16, 2020 9:07 pm
Forum: Personal Finance (Not Investing)
Topic: Med-Pay “P.I.P” Coverage In Auto Insurance
Replies: 13
Views: 887

Re: Med-Pay “P.I.P” Coverage In Auto Insurance

Large auto accident medical bills can have very unfortunate financial effects. Commercial health insurers and medicare will pay for medical care needed as a result of an auto accident but then recover as much of the amount paid as possible due to a tort settlement or judgment. I have seen cases of p...
by Rwsawbones
Sun Dec 29, 2019 12:53 am
Forum: Personal Finance (Not Investing)
Topic: Term insurance beneficiary when going through divorce?
Replies: 21
Views: 1499

Re: Term insurance beneficiary when going through divorce?

I faced a similar issues many years ago. You need current legal advice appropriate to the current times, your state laws and your particular state. In my case my will was changed to give my spouse the minimum required by law. My state Ma is not a community property state. A trust was written of whic...
by Rwsawbones
Thu Dec 26, 2019 10:34 pm
Forum: Personal Consumer Issues
Topic: Long Plane trip - 16 Hours to Shanghai
Replies: 67
Views: 6275

Re: Long Plane trip - 16 Hours to Shanghai

Excellent idea to change one’s own clock by changing sleeping times to the destination for several days before the journey. You might consult with your physician for some of the finer details
by Rwsawbones
Thu Dec 26, 2019 10:31 pm
Forum: Personal Consumer Issues
Topic: Long Plane trip - 16 Hours to Shanghai
Replies: 67
Views: 6275

Re: Long Plane trip - 16 Hours to Shanghai

I shift my sleep cycle closer to the arrival time zone. 1st night, Atlanta to Denver time 3rd night, Denver to Honolulu time 5th day, fly away. Jetlagrooster does detailed plans for a full time zone shift. However, a partial adjustment helps me deal with flight-time-loss better than full adjustment...
by Rwsawbones
Wed Dec 25, 2019 10:52 pm
Forum: Personal Finance (Not Investing)
Topic: demented mother's online spending
Replies: 126
Views: 11453

Re: demented mother's online spending

Clearly full medical evaluation of both is indicated by their MD or a geriatric specialist. If there is an issue of legal competency both the records of her spending an Neuro psych testing by a neuro-psychologist provide powerful evidence. In dealing with a person with dementia making logical argume...
by Rwsawbones
Tue Dec 24, 2019 12:30 am
Forum: Personal Consumer Issues
Topic: Auto Liability Insurance - amounts? $250k/$500k/$100k OK?
Replies: 17
Views: 1829

Re: Auto Liability Insurance - amounts? $250k/$500k/$100k OK?

A relatively low impact accident can easily exceed your current limits. You are at a stage of life which will make financial recovery from a accident difficult. Umbrella policies are not expensive and among other advantages will result in more active claims investigator and better lawyers. Should yo...
by Rwsawbones
Sun Dec 01, 2019 7:17 pm
Forum: Personal Finance (Not Investing)
Topic: Long Term Care Insurance (LTCi) Purchase
Replies: 3
Views: 782

Re: Long Term Care Insurance (LTCi) Purchase

For figures DW and I have the following Purchased age 49 Then $120 per day now $300 per day $6 increase per day per year (5% simple interest yearly premium then and now $1300 for both of us 90 day elimination 72 months total benefits each Purchased age 56. Then $80 per day now $220 per day 5% compou...
by Rwsawbones
Sat Nov 30, 2019 3:25 pm
Forum: Personal Finance (Not Investing)
Topic: Possible to negotiate private pay cost for nursing home?
Replies: 22
Views: 2561

Re: Possible to negotiate private pay cost for nursing home?

There is a big difference in payment rate between Medicaid payments and private pay so yes you cannot pay less than Medicaid Eligibility for SNF LTC involves inability to do two of a list of Activities of Daily Living (ADLs) without substantial assistance which are as follows 1. Bathing 2 Dressing 3...
by Rwsawbones
Thu Nov 28, 2019 9:57 pm
Forum: Personal Finance (Not Investing)
Topic: Possible to negotiate private pay cost for nursing home?
Replies: 22
Views: 2561

Re: Possible to negotiate private pay cost for nursing home?

SNFs fun by non profits will not bargain over rates but you get more for your money because they have endowment fund income and do not have to earn money for stockholders. Privately owned SNFs barely make costs on Medicaid rates. If you offer significantly more than Medicaid rates you have an excell...
by Rwsawbones
Thu Nov 14, 2019 8:14 pm
Forum: Personal Consumer Issues
Topic: Insurance coverage outside the US
Replies: 4
Views: 386

Re: Insurance coverage outside the US

Suggest you look into GeoBlue and similar plans for coverage out of the United States
by Rwsawbones
Thu Nov 14, 2019 8:13 pm
Forum: Personal Consumer Issues
Topic: Insurance coverage outside the US
Replies: 4
Views: 386

Re: Insurance coverage outside the US

Suggest you look into GeoBlue and similar plans for coverage out of the United States
by Rwsawbones
Sun Nov 10, 2019 7:42 pm
Forum: Investing - Theory, News & General
Topic: If you were forced to pick an alternative asset...
Replies: 107
Views: 7854

Re: If you were forced to pick an alternative asset...

I know my ideas do break the rule regarding being held in brokerage accounts but you might consider an ETF or mutual fund of international real estate investment trusts. A second place to look is a donor advised charitable trust which FIDO and others have. You could put several years of contribution...
by Rwsawbones
Wed Nov 06, 2019 7:25 pm
Forum: Personal Finance (Not Investing)
Topic: Does umbrella insurance premium change over time?
Replies: 13
Views: 1025

Re: Does umbrella insurance premium change over time?

The premium does indeed depend on exposures in terms of young drivers, numbers of cars, numbers of residences, power boats, snow mobiles and the like. But much older people in late 60s and above see a very high increase in premium. Maybe old folks are riskier drivers similar to teenagers.
by Rwsawbones
Tue Oct 08, 2019 8:46 pm
Forum: Personal Finance (Not Investing)
Topic: Asset protection
Replies: 34
Views: 3601

Re: Asset protection

It may be possible for your wife to be added to the MD’s policy as a separate insured with her own limits of coverage. This is apt to be much more economical than having her own policy. In MA NPs affiliated with an MD can have $3mill per event with a total of $6 per year for a occurrence premium of ...
by Rwsawbones
Tue Oct 08, 2019 8:46 pm
Forum: Personal Finance (Not Investing)
Topic: Asset protection
Replies: 34
Views: 3601

Re: Asset protection

It may be possible for your wife to be added to the MD’s policy as a separate insured with her own limits of coverage. This is apt to be much more economical than having her own policy. In MA NPs affiliated with an MD can have $3mill per event with a total of $6 per year for a occurrence premium of ...
by Rwsawbones
Thu Oct 03, 2019 8:57 pm
Forum: Investing - Theory, News & General
Topic: Over Confident in Old-age: Cognitive Decline and Financial Literacy
Replies: 83
Views: 8612

Re: Over Confident in Old-age: Cognitive Decline and Financial Literacy

I understand the dilemma of not being able to judge one’s own competence. Simplifying one’s holdings, use of SPIAs, seeing to it that one’s significant others can help with finances, or at the very least are empowered to view the investment accounts even if not authorized to run the accounts are goo...
by Rwsawbones
Sat Aug 17, 2019 10:24 pm
Forum: Personal Investments
Topic: Don’t put new money in market right now??
Replies: 59
Views: 8083

Re: Don’t put new money in market right now??

I am a 78 year old practicing physician who financially could easily have left practice years ago. I enjoy my work. I have DCAveraged for about 50 years. During that time I experienced all manner of financial and world crises. The advantage of DCA is that it makes one psychologically able to deal wi...
by Rwsawbones
Mon Jul 15, 2019 8:24 pm
Forum: Personal Consumer Issues
Topic: Gold Coin for fun, not for investment or numismatics [Canadian Maple Leaf]
Replies: 31
Views: 3138

Re: Gold Coin for fun, not for investment or numismatics [Canadian Maple Leaf]

You can use an American Gold Eagle for jewelry and a Canadian Gold Maple Leaf to admire.
by Rwsawbones
Fri Jul 12, 2019 1:49 pm
Forum: Personal Finance (Not Investing)
Topic: Would Love Some Guidance On An Umbrella Policy
Replies: 28
Views: 2404

Re: Would Love Some Guidance On An Umbrella Policy

You have been given excellent advice above. It would be a good idea to get competent legal advice on asset protection as well. While your assets may not be very much at this point they will increase with time. It is best to be a small target for plaintiffs of all sort. Planning now can stand you in ...
by Rwsawbones
Fri Jul 12, 2019 1:32 pm
Forum: Personal Consumer Issues
Topic: Automatic Watches
Replies: 92
Views: 7341

Re: Automatic Watches

Clearly quartz watches and cell phones give better time than mechanical watches. Quartz was what I wore until my 25 th anniversary in 2003. DW had saved $25 a week for 25 years and bought me a gold Rolex (they cost much less 16 years ago than now). Clearly I did not have 25 years to save up for her’...
by Rwsawbones
Wed Jul 10, 2019 7:42 pm
Forum: Personal Investments
Topic: VOO vs bonds
Replies: 62
Views: 3653

Re: VOO vs bonds

The last AAA rated corporate bond I bought was GE in about 2003. The coupon was 5% and they matured in about 2013. I believe that there was a power service company in Washington State nicknamed WHOOPS that issued tax free bonds that were AAA rated before the company went into bankruptcy in the 1980s...
by Rwsawbones
Mon Jul 01, 2019 9:06 pm
Forum: Personal Consumer Issues
Topic: [Cellphone SIM card hijacking - Security concerns and mitigation techniques]
Replies: 254
Views: 34592

Re: Man’s life savings stolen from hijacked cellphone number

Most of my assets are at FIDO. Profit sharing and IRA plans require paperwork to do withdrawals. Non tax deferred plans have stops on them to prevent moving money from FIDO. The iPad on which this is written has no email function. It has FIDO and BofA and It does have stored passwords which require ...
by Rwsawbones
Fri Jun 28, 2019 11:44 am
Forum: Personal Investments
Topic: Metlife Flexible Premium Variable Live Insurance---cash value
Replies: 7
Views: 456

Re: Metlife Flexible Premium Variable Live Insurance---cash value

Can one do a 1035? exchange of a cash value policy on one’s own life for an annuity with one’s spouse with 100% to the survivor?
by Rwsawbones
Thu Jun 20, 2019 7:40 pm
Forum: Personal Finance (Not Investing)
Topic: Umbrella policy went up 166%
Replies: 34
Views: 3779

Re: Umbrella policy went up 166%

There is another time in life when umbrella policies jump in price namely old age. About age 70 my USAA umbrella premium almost doubled with no other changes in exposures. The underwriters May be concerned about potential for disastrous accidents caused by a medical disablement.
by Rwsawbones
Sat Jun 01, 2019 2:22 pm
Forum: Personal Investments
Topic: Bond fund profiles - which is the safer one?
Replies: 4
Views: 359

Re: Bond fund profiles - which is the safer one?

Oops I did not read the the attachments. Clearly bond fund 2 with the higher quality bonds and lower expense ratio is the safer choice. Neither fits my portfolio since I use the bond funds for ballast and stick to treasure index funds in tax deferred and I bonds and municipal funds and individual mu...
by Rwsawbones
Sat Jun 01, 2019 2:08 pm
Forum: Personal Investments
Topic: Bond fund profiles - which is the safer one?
Replies: 4
Views: 359

Re: Bond fund profiles - which is the safer one?

You need more information such as the makeup of the quality of the bonds in both funds and the 30 day Sec yield. With the limited information you supplied the one with the lowest expense ratio is the better choice. But I cannot pick either one for my portfolio without more information. You also need...
by Rwsawbones
Sat Jun 01, 2019 11:37 am
Forum: Personal Finance (Not Investing)
Topic: Cashback cards - what's left for me?
Replies: 29
Views: 2896

Re: Cashback cards - what's left for me?

Fidelity has a card that gives back 2% of all purchases deposited into your money market account which has a current interest rate about 2%. If you do not have a Fidelity money market account you can open one with a nominal deposit
by Rwsawbones
Tue May 28, 2019 10:03 pm
Forum: Personal Finance (Not Investing)
Topic: Help understanding health insurance for a 4 month gap
Replies: 6
Views: 785

Re: Help understanding health insurance for a 4 month gap

Expenses for illness in 29 year old is likely to be much more than accidents. Going with COBRA is the best course. Even most of the high expenses for accidents are medical complications. The devil is in the details which can be difficult for even a medical professional to understand.
by Rwsawbones
Tue May 28, 2019 9:04 pm
Forum: Personal Investments
Topic: On Life Insurance, Can the Net Cash Value Exceed the Death Benefit?
Replies: 12
Views: 1263

Re: On Life Insurance, Can the Net Cash Value Exceed the Death Benefit?

It would help to know the date of death. If soon the death benefit would be received without any taxes by the beneficiaries. If the policy is cashed in while alive income taxes as noted above will be due on the difference between cash received and premiums paid. On a small policy the amounts are sma...
by Rwsawbones
Tue May 21, 2019 11:12 pm
Forum: Personal Finance (Not Investing)
Topic: Opening a Pediatric practice as a Pediatric Nurse Practitioner
Replies: 66
Views: 5476

Re: Opening a Pediatric practice as a Pediatric Nurse Practitioner

You might look into taking over the practice of a solo soon to retire pediatrician. You will then have a template for your own practice without which it is almost impossible to form a practice these days. The retiring MD will be invaluable As your practice become busier you can bring additional NPs ...
by Rwsawbones
Sat May 11, 2019 8:38 pm
Forum: Personal Finance (Not Investing)
Topic: Social Security Disability: Fibromyalgia
Replies: 31
Views: 3936

Re: Social Security Disability: Fibromyalgia

The most important strategy is persistence. If turned down at one level always appeal. The end game is before an administrative law judge who will ask the applicants the questions needed to support immediate benefits. There will be one large payment for the previous 6 months to be followed by monthl...
by Rwsawbones
Sat Apr 27, 2019 2:26 pm
Forum: Personal Finance (Not Investing)
Topic: Why I don't think I should get long term care insurance right now
Replies: 164
Views: 13224

Re: Why I don't think I should get long term care insurance right now

It is not only the elderly who require long term care. Illness and injury result in about 20 % of LTC Residents being younger than 50. Ailments that one can collect in one’s 50s can make one uninsurable
by Rwsawbones
Wed Apr 24, 2019 9:23 pm
Forum: Personal Finance (Not Investing)
Topic: What, if anything, do I owe this guy?
Replies: 82
Views: 9094

Re: What, if anything, do I owe this guy?

You might feel better if you send him a polite note thanking him but declining his services and enclosing say. $200 gift certificate for a nice local restaurant In the future if a financial person wants to take you to a restaurant you should either decline the visit or if you feel you must accept it...
by Rwsawbones
Fri Mar 15, 2019 7:47 pm
Forum: Personal Consumer Issues
Topic: best way to sell a coin collection
Replies: 33
Views: 3118

Re: best way to sell a coin collection

Do you know any coin collectors? There may be some value in some of the coins. Dealers like to buy all material at “generic”. prices. A collector can help. There is a book. Guide Book of US Coins” also known as the Red Book (for its cover). The 2020 edition is coming out soon. The book has high reta...